AN OFFER to buy out Bury FC should be tabled in time for Shakers' crucial High Court date this week.

The cash-strapped club will return to Liverpool on Friday to either be granted a month's extension to their administration period or be placed into liquidation.

And administrators expect their claim to be boosted by news that a formal offer has been put to creditors, who are demanding repayment of a £1.3million mortgage.

Joint administrator Matthew Dunham said that, with the season over and money rapidly running out, a deal must be struck between investors and creditors by June 1 or time will be called on the 117-year-old Gigg Lane outfit.

"I want to get the deal done by then because that's when someone at the club has to give a commitment to the Football League that they will play all of next season's fixtures," he said.

"At the moment, I couldn't do that. There's not enough revenue being created and there's only so long the club can be funded on the good will and support of the fans.

"The only way we could make that commitment is if a deal has been finalised or at least be 99 per cent of the way there.

"I'm talking to interested parties at the moment and I'm working with them to getting an offer agreed in the next few days.

"Until we have an offer accepted by the creditors, I won't make any announcements because I don't want to build up people's hopes."

Among the front runners to take over at Gigg Lane are Sale Sharks rugby union boss Brian Kennedy and the Bury FC Supporters' Trust.

Dunham remained tight lipped over who would make the final offer but said there were other reasons why a quick sale was needed.

"Another reason I want a buyer in place by the end of May is because the fans don't want us here," he said.

"It's nothing personal. They have been fantastic and without them, we would have had no chance of saving the club. They just want their club back and we want to give it to them.

"Progress has been slower than expected because we have also had to contend with things like the ITV Digital situation and the general uncertainty of football at the moment.

"We still have a long way to go because we are asking creditors to write off a lot of money and for investors to plough money into a football club with relatively low gate receipts and the uncertainty over TV money.

"So we have a lot of negotiating to do but we remain extremely hopeful we can finalise a deal."